OLDSMAR, Fla., Dec. 19 /PRNewswire-FirstCall/ -- eAutoclaims (OTC:EACC) (BULLETIN BOARD: EACC) , a leading provider of managed collision repair services and insurance claims processing technology applications, today announced financial results for the first quarter ending October 31, 2006 for fiscal year 2007. Total revenue for the three-months ended October 31, 2006 was approximately $4.0 million, representing a 6% increase from the $3.8 million for the same three months ended October 31, 2005. EACC recognized a net loss for the three-months ended October 31, 2006 totaled approximately $313,000 compared to a net loss of approximately $486,000 for the three-months ended October 31, 2005, an improvement of approximately $173,000, or 36%. Included in these numbers are non-cash expenses of approximately $277,000 including depreciation charges, for the three months ended October 31, 2006 compared to $305,000 for the three months ended October 31, 2005. The Company's balance sheet as of October 31, 2006, shows approximately $1.1 million in cash. The Company has a working capital deficiency of approximately $2.5 million compared to a deficiency of approximately $3.9 million as of October 31, 2005. The primary source of our working capital during the three-months ended October 31, 2006 was from cash generated by operations. Management believes that current cash on hand and cash generated from operations will be sufficient to meet our working capital requirements for the next 12 months. Eric Seidel, CEO of EACC, commented, "We continue to see improvements in our operating results. While our direct sales channel is making real progress in new sales, we are especially pleased by the results this past quarter by our Special Markets Group. During the three-months ended October 31, 2006 we earned over $208,000 in net revenue from clients acquired as a result of channel partners. We are seeing the positive impact on sales and margin increases of our overall revenue mix we had expected from our channel partners and the higher margin products in our Technology or ASP Division. We continue to explore opportunities within collision management and other closely related industry to expand our customer base and create additional revenue streams within our industry expertise." Conference Call Schedule The Company will host an Investor update conference call the week of January 8th. A formal announcement on this conference call will be made the first week of the New Year. About eAutoclaims eAutoclaims (OTC:EACCOTC:-OTC:News) (BULLETIN BOARD: EACC - News) is a business services company that provides the insurance industry with claims management services through both ASP and integrated outsourcing solutions. The Company's clients are insurance companies, fleet management companies and insurance services companies. eAutoclaims' solutions streamline the claims handling process, decreasing the overall time and cost required to process a collision claim, and reducing average paid losses for its clients. The Company handles repair estimates, repair audits, and claims systems administration services for automobile claims that are processed and tracked via the eAutoclaims web-based platform and network of service providers. This announcement contains forward-looking statements. Words such as anticipate, believe, estimate, satisfies, expect and other similar expressions as they relate to the Company and its management are intended to identify such forward-looking statements. Although the Company and its management believe that the statements contained in this announcement are reasonable, it can give no assurances that such statements will prove correct. Factors that could affect the occurrence of events or results discussed herein are included with those mentioned in the Company's filings with the Securities and Exchange Commission. Financial Tables Follow eAutoclaims, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three-month Three-month Period Ended Period Ended October 31, October 31, 2006 2005 (unaudited) (unaudited) Revenue: Collision repairs management $3,196,168 $2,848,365 Fleet repairs management 220,569 242,179 Other revenue 602,634 711,502 Total revenue 4,019,371 3,802,046 Expenses: Claims processing charges 2,842,133 2,687,349 Selling, general and administrative 1,377,943 1,478,493 Depreciation and amortization 111,916 122,284 Total expenses 4,331,992 4,288,126 Net loss $(312,621) $(486,080) DATASOURCE: eAutoclaims CONTACT: Company, Eric Seidel, CEO of eAutoclaims, +1-813-749-1020, Ext. 2204, or ; or Investors, Mark McPartland of Alliance Advisors, LLC, +1-910-221-1827, or Web site: http://www.eautoclaims.com/

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